Omkar Realtors in JV launching project in Mahim

Mumbai-based realty players Omkar Realtors and Anand Piramal led Piramal Realty in partnership are building a new project in Mahim. The companies are in advanced stages of discussions to jointly develop a 5-acre prime sea-facing property. This will be the second joint venture agreement between the two after the iconic Dhobi Ghat redevelopment project at Mahalaxmi spread across 12 acres. Earlier, Omkar had also entered into a joint development agreement with L&T Realty for a17-acre redevelopment project in the Parel area, called Crescent Bay, and with Godrej Properties to develop a 4.25 acre project in the tony Bandra West area. The project is being undertaken under the slum rehabilitation scheme by Omkar and Piramal. While Omkar will develop the slum rehabilitation component, Piramal will handle the commercially saleable component which will be a luxury residential development. The companies have decided to launch the project in this fiscal.

: Published: 19 April 2019

Retail realty doubles investment to $1.2-bn in two years

India's retail real estate sector attracted private equity investment worth $1.2 billion in the past two years, doubling from the previous two years, according to Anarock property consultant, attributing the sharp rise in private equity Read More ...

CREDAI demands quicker clearances in Chennai

With real estate and housing sector facing various challenges in the country, the Confederation of Real Estate Developers Association of India (CREDAI) Tamil Nadu chamber has stressed the need for a single-window clearance for Read More ...

TSPD expands operational ambit into housing sector

After carving out a niche in setting up fuel stations, spas and food courts, the Telangana State Prisons Department has recently forayed into housing development for middle and lower middle class families. The activity is being Read More ...

KMRL cruises ahead with ₹1,987-cr Phase-II expansion

In a bid to speed up expansion work on Phase-II, the Kochi Metro Rail Ltd (KMRL) has conducted a Social Impact Study of the metro line from Jawaharlal Nehru International Stadium to Infopark via Kakkanad. The revised DPR has been Read More ...

NOIDA unveils twin metro connects to National Capital

The Greater Noida Industrial Development Authority (GNIDA) is planning two new Metro links to connect to the capital city. The plan is to extend the Delhi Metro Rail Corporation‘s (DMRC) Blue Line from Noida City Centre into a loop Read More ...

Plans afoot to widen NH-29 road stretch in Nagaland

In order to widen the National Highway 29 from Purana Bazaar to Chümoukedima stretch at Dimapur in Nagaland, the authorities have fast tracked the process of resolving pressing issues related to the 4-lane construction of the road Read More ...

LMRC marches ahead with ₹8,415-cr Agra metro rail project

Expanding the metro rail network across cities, the Lucknow Metro Rail Corporation (LMRC) is set to start construction of the Agra metro rail project involving an investment of ₹8,415 crore. It will provide respite from traffic congestion Read More ...

NHAI fixes ₹3 trillion roads & highways on radar

In a strategic move, NHAI has decided to consider only those projects that require minimal land acquisition. This is due to the increased compensation costs after the new Act — the Right to Fair Compensation and Transparency in Read More ...

Japan injects $5-bn in India's infra sector

In a major funding push, Japan has agreed to invest $5 billion in the current fiscal in the country's infrastructure sector covering surface and water transport, and power projects. More than 60 percent of the investment will be Read More ...

UP fast-tracks ₹37,000-cr expressway projects

The UP government has hastened construction work on the twin highways entailing an investment of ₹37,000 crore and has already speeded up acquisition of 8,000 hectares of land for the 353-km Purvanchal Expressway and for the Read More ...

CONCOR plans ₹8,000-cr ports & logistics centers

The Container Corporation of India (CONCOR) has decided to invest ₹8,000 crore in developing 100 dry ports and 20 distribution logistics centers across the country in a phased manner, informed CMD, V Kalyana Rama. The Read More ...

Govt goes for ₹797-cr double-decker flyover in Bangalore

Bangalore is set to get a double-decker flyover - the first-of-its-kind in South India. The road-cum-rail flyover between Ragigudda and Central Silk Board (3.35km) costing ₹797 crore is likely to be completed soon. The lower deck Read More ...

DMRC submits DPR for ₹7,000-cr Jewar Airport project

DMRC has submitted a feasibility report to YEIDA proposing a metro line from Greater Noida's Pari Chowk to Jewar Airport at an investment of ₹7,000 crore. In the DPR, a total of 25 metro stations have been proposed. DMRC has now Read More ...

Bhumika Logistic enters realty with ₹300-cr projects

Logistic firm Bhumika Group has forayed into the real estate segment and will develop a mixed use project at Udaipur in Rajasthan at an investment of ₹300 crore. The company is developing over 10 lakh sq ft area in the first Read More ...

TN launches ₹260-cr east coast road project

The much delayed six-lane stretch of East Coast Road starting from Thiruvanmiyur to Akkarai will have dual-level grade separators and would cost ₹260 crore. The DPR has been submitted to the authorities envisaging six-lane Read More ...

Cidco approves 194 ha land for second town planning

Lokesh Chandra, VC & MD of CIDCO informed hthat they have sanctioned the second town planning scheme (TPS) for CIDCO's proposed NAINA Project, covering an area of 194 hectares. TPS-2 covers the villages of Devad, Bhokharpada Read More ...